Commercial Property Insurance in Ohio

You can save up to 25% in discounts.*

Commercial property helps cover physical assets

Business goods and gear

Business goods and gear

You turn your back and someone does the 100-yard dash with your business laptop. You’ll need a replacement.


A tree unexpectedly falls on your shop’s roof.
Equipment breakdowns

Equipment breakdowns

Your HVAC unit stops working the day after the warranty expires.
Business income interruptions

Business income interruptions

A fire damages an exterior wall at your business and you have to close for three weeks during repairs.

What does Commercial Property insurance cover in Ohio?

Commercial property insurance can help provide coverage for the physical assets you need to operate your Ohio business, such as inventory, equipment and brick-and-mortar structures.

This insurance could help with replacement, repair and reimbursement costs if a covered accident or emergency occurs.

The following are some examples of how commercial property insurance can help Ohio business owners:

  • Structure fire: Commercial property insurance can help pay for repairs and replacements if a fire causes damage to your business assets.
  • Water damage: Commercial property insurance could also help pay to fix water damage resulting from burst pipes or other types of leaks. Note: This does not include flood coverage (see below for more details).
  • Theft or vandalism: Property that is stolen or vandalized inside or within 100 feet of your business may be covered by commercial property insurance.

Generally, damage from water, fire and wind can be covered by Ohio commercial property insurance. Man-made events like theft and vandalism may be covered as well.

Coverage can vary between different industries. It’s important to read your policy documents carefully to find out exactly what is covered and excluded for your business.

Commercial property insurance can protect different types of property

Some of the items that Ohio commercial property insurance can help protect include:

  • Inventory
  • Furniture
  • Fixtures
  • Flooring
  • Equipment
  • Broken windows
  • Structural damage
  • Business income

Types of Commercial Property insurance coverage

NEXT policies can include four types of commercial property insurance coverage for Ohio businesses:

Goods, gear and inventory

Commercial property insurance can help provide financial assistance if your furniture, equipment or inventory is affected by a covered event. This coverage is also known as business personal property insurance or BPP insurance.

Example: If a Columbus lawn care business is burglarized overnight and important equipment is stolen, commercial property insurance could help pay for replacements.

Business income interruption

If a temporary closure is required due to fire, water damage or another covered event, commercial property insurance could help cover lost income and other related expenses. This is also known as business interruption insurance or business income insurance.

Example: If a Cleveland fitness studio has to close for two weeks after a fire, commercial property insurance can help cover the income lost during the time it takes for repairs to be made.

Equipment breakdowns

Commercial property insurance coverage can help with replacement or repair costs if your equipment is damaged due to a power surge or mechanical failure.

Example: If the electronic circuit control board in a Cincinnati restaurant’s fridge malfunctions and causes food to spoil, commercial property insurance can help pay to fix the problem.


Commercial property insurance can help pay for repairs to buildings you own and use for business purposes. Business owners who lease or rent commercial space typically don’t need this coverage.

Example: If a hailstorm causes damage to the roof of an Akron furniture store, commercial property insurance could help pay for the costs to repair or replace roofing material.

Does Commercial Property insurance help pay for damage from natural disasters in Ohio?

NEXT’s Ohio commercial property coverage can help pay for fire, wind and hail damage to your business property. This can include damage resulting from certain types of weather events, including:

  • Windstorms
  • Tornados
  • Wildfires

NEXT commercial property insurance can cover certain man-made disasters, such as vandalism and rioting. Coverage for acts of terrorism is available as an optional add-on to your policy.

Commercial property coverage from NEXT does not include volcanoes and floods. Most Ohio communities participate in the National Flood Insurance Program, the primary resource for flood insurance made available through the federal government.1 You may want to consider this coverage if your business is located in an area prone to flooding.

It’s critical to read through your policy documents closely to make sure you are getting the coverage you need. NEXT has a team of U.S.-based advisors who are available to help as you review coverage options.

Is Commercial Property insurance required in Ohio?

Ohio does not require all businesses to carry commercial property insurance.

However, business owners may discover they need this type of coverage to rent or own commercial property.

Even when it is not required by law, commercial property insurance could benefit your Ohio business in the following ways:

Cover property damage costs

Commercial property insurance can help your business remain financially stable if you need to replace or repair damaged property after a covered accident occurs.

Survive business interruptions

If you need to close temporarily after a covered incident, business income insurance could help with financial assistance for lost income, moving and relocation costs and employee wages.

Secure a loan

Some Ohio banks require proof of commercial property insurance before they will grant approval for a business loan or mortgage. The Small Business Administration (SBA) requires small business owners to have business hazard insurance on building used as collateral for loans.

Lease agreement

Ohio landlords might ask you to carry commercial property insurance as a condition of your commercial lease agreement.

What types of businesses might need Commercial Property insurance in Ohio?

Ohio businesses across a wide range of industries can benefit from the financial protection provided by commercial property insurance.

This type of Ohio business insurance can help protect business assets for businesses operating from a physical location, like an office space or a brick-and-mortar store.

Home-based businesses often have coverage through their homeowner’s insurance, but it is typically very limited. Commercial property insurance can provide additional coverage for important physical assets.

In certain industries, commercial property insurance may be considered especially important for financial protection. For example, retail businesses operating from brick-and-mortar stores typically keep more inventory on-site than other businesses. Because that inventory can be stolen or damaged, commercial property coverage is particularly critical.

How much does Commercial Property insurance cost in Ohio?

The cost of commercial property insurance in Ohio varies based on a number of factors, including:

  • What type of work you do
  • How many employees you have
  • Your business property location
  • The total value of your business property
  • Your history of past claims
  • Your work experience
  • How high you set your limits

To find out how much coverage will cost for your business, start a free instant quote online.

At NEXT, 56% of our U.S. customers pay $45 or less per month for commercial property insurance.**

Learn more about commercial property insurance costs.

How NEXT helps Ohio businesses

NEXT provides Ohio commercial property insurance policies designed for small businesses and self-employed workers.

It only takes about 10 minutes to get a quote, review your coverage options, choose your policies and download a certificate of insurance.

Start an instant quote online today.

Our team of licensed insurance advisors is standing by to assist you if you have any questions along the way.

Other important Ohio business insurance coverage

Ohio commercial property insurance can help protect your business’s physical assets. However, it’s important to consider additional types of coverage designed for the risks you may face every day as a business owner.
In addition to property insurance, these Ohio business insurance coverages can help to protect your business:
General Liability
General Liability insurance

General liability coverage can help protect your business if certain types of accidents occur, like damage to property that doesn’t belong to you or an injury to someone other than an employee.

Workers Compensation
Workers’ Compensation insurance

Workers’ compensation insurance can help cover costs like medical expenses and lost wages if an employee gets hurt on the job. In Ohio, all employers are required by law to have workers’ comp insurance.2

Commercial Auto
Commercial Auto insurance

Commercial auto insurance can help cover medical expenses, property damage and other expenses if you or an employee is involved in an accident while driving for work-related purposes.

Commercial auto insurance is mandatory for all business-owned vehicles in Ohio, with minimum coverage of $25,000 per person, $50,000 per accident and $25,000 for property damage.3

Errors & Omissions
Professional Liability insurance (E&O insurance)

Professional liability insurance can help protect your business if a client claims that you made a professional mistake that cost them money. It’s commonly bundled with general liability insurance for more comprehensive protection.

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Let’s find the coverage you need for your business
Business insurance is divided into different policies. We offer seven types so it's easy to design the coverage that fits your business.
General Liability insurance
General Liability
Protect yourself from accidents that cause physical injury or damaged property.
Professional Liability or Error and Omissions Insurance
Professional Liability/E&O
Shield yourself from lawsuits that claim your work errors caused financial losses.
Workers' Compensation Insurance
Workers’ Compensation
Cover medical bills and lost wages if your employees have an accident at work.
Commercial Auto Insurance
Commercial Auto
Stay on the road with coverage for dents, tows and damage to someone else’s vehicle.
Tools & Equipment Insurance
Tools & Equipment
Upgrade your general liability coverage to protect any gear that’s stolen, damaged or lost.
Commercial Property Insurance
Commercial Property
Keep your building, inventory and equipment protected from fire or water damage.
Business Owner’s Policy Insurance
Business Owner’s Policy
Combine general liability and commercial property into one policy to protect your business.
* To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.
** The cost data presented here are based on NEXT active customers in the U.S. who purchased general liability insurance over the previous 12 months. These data should not be considered a substitute for obtaining a quote specific to your business. These data were updated in July 2022.
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Issuance of coverage is subject to underwriting. Not available in all states. Please see the policy for full terms, conditions and exclusions. Coverage examples are for illustrative purposes only. Your policy documents govern, terms and exclusions apply. Coverage is dependent on actual facts and circumstances giving rise to a claim. Next Insurance, Inc. and/or its affiliates is an insurance agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales. Policy obligations are the sole responsibility of the issuing insurance company. Refer to Legal Notices section for additional information.

Any starting prices or premiums represented before an actual customer quote are not guaranteed and are representations of existing premiums of active policies as of December 6, 2023. To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.